The GEO Group (NYSE:GEO) Trading Up 3.5% – Here’s Why

The GEO Group, Inc. (NYSE:GEO)’s share price shot up 3.5% during mid-day trading on Tuesday . The stock traded as high as $28.96 and last traded at $28.92. 247,024 shares were traded during trading, a decline of 91% from the average session volume of 2,699,523 shares. The stock had previously closed at $27.94.

Analyst Ratings Changes

GEO has been the subject of several analyst reports. Northland Securities upped their price target on The GEO Group from $16.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Noble Financial lowered The GEO Group from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. StockNews.com cut The GEO Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Wedbush raised their price target on The GEO Group from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

The GEO Group Trading Up 2.5 %

The company has a debt-to-equity ratio of 1.25, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $4.00 billion, a PE ratio of 96.38, a P/E/G ratio of 3.47 and a beta of 0.63. The company’s fifty day simple moving average is $17.52 and its 200-day simple moving average is $15.20.

Hedge Funds Weigh In On The GEO Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its stake in The GEO Group by 27.9% in the third quarter. Tidal Investments LLC now owns 22,000 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 4,800 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of The GEO Group by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,016,103 shares of the real estate investment trust’s stock worth $38,765,000 after acquiring an additional 97,452 shares during the period. Barclays PLC increased its position in shares of The GEO Group by 374.6% in the third quarter. Barclays PLC now owns 216,447 shares of the real estate investment trust’s stock valued at $2,781,000 after buying an additional 170,839 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in The GEO Group by 206.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 47,377 shares of the real estate investment trust’s stock worth $609,000 after acquiring an additional 31,913 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its position in The GEO Group by 1,501.6% during the third quarter. Hodges Capital Management Inc. now owns 788,800 shares of the real estate investment trust’s stock worth $10,136,000 after buying an additional 739,550 shares in the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.

About The GEO Group

The GEO Group, Inc (NYSE: GEO) engages in ownership, leasing, and management of secure facilities, processing centers, and community-based reentry facilities in the United States, Australia, the United Kingdom, and South Africa. The company also provides secure facility management services, including the provision of security, administrative, rehabilitation, education, and food services; reentry services, such as temporary housing, programming, employment assistance, and other services; electronic monitoring and supervision services; and transportation services; as well as designs, constructs, and finances new facilities through projects.